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Surplus Product, Surplus Utility and Surplus Value in the Relative Theory of Utility and Value

Author

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  • Kamen Mirkovich

Abstract

An attempt is made to deduce definitions about terms "surplus product", "surplus utility" (this term is introduced for the first time here) and "surplus value" in microeconomics with the help of the relative theory of utility and value, which basic concepts were developed by the author in his previous articles. The main objective is to prove that these concepts exist in the economic reality and are absolutely compatible with the modern economic theory (economics) and that is why they should be included in it. Marx theory of surplus product and surplus value is only a special case of the thesis justified in the article. By means of this thesis it is possible to define such terms as "marginal surplus product", "marginal surplus utility" and "marginal surplus value".

Suggested Citation

  • Kamen Mirkovich, 2005. "Surplus Product, Surplus Utility and Surplus Value in the Relative Theory of Utility and Value," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-24.
    • Handle: RePEc:bas:econth:y:2005:i:4:p:3-24
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    Cited by:

    1. Nikolay Nenovsky, 2010. "The Bulgarian Economic Thought since 1989: A Personal View," ICER Working Papers 21-2010, ICER - International Centre for Economic Research.

    More about this item

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D20 - Microeconomics - - Production and Organizations - - - General

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